New owner of S.F.'s biggest mall sues to evict three of its last remaining tenants

"The new entity that owns San Francisco Centre, the city's biggest mall, has sued to evict three of the last remaining tenants, according to court filings. An unlawful detainer motion filed Friday seeks the eviction of Executive Order bar; KBR Enterprises Inc., which operates the Shoe Wiz repair service; and Fardin Amiri, who appears to own a salon in the mall."

"DBJPM 2016-SFC Emporium, the group of lenders that bought the mall's debt in November, previously sent letters to the last two dozen final tenants, saying their leases were terminated. Most of the last holdouts at the mall have already closed or plan to this month, including Shake Shack, Aritzia, H&M and GNC. The mall's death spiral started after the pandemic and remote work devastated foot traffic in the Powell Street area, leading to the closures of anchor tenants Nordstrom and Bloomingdale's."

DBJPM 2016-SFC Emporium, the lenders that acquired the mall's debt in November, filed an unlawful detainer motion to evict Executive Order bar, Shoe Wiz operator KBR Enterprises Inc., and salon owner Fardin Amiri. Several remaining tenants previously received lease-termination letters, and many holdouts such as Shake Shack, Aritzia, H&M and GNC have closed or plan to close this month. The mall suffered severe foot-traffic decline after the pandemic and remote work, causing Nordstrom and Bloomingdale's to leave. CBRE has been retained to market the property, though repurposing the mall could be prohibitively expensive; a closure would reduce utilities and security costs.

Read at Yahoo News